Business & Markets

Lucid Energy Commissions Cryogenic Processing Plant in the Delaware Basin

The Red Hills V plant has the capacity to process 230 million cubic feet of natural gas per day (MMcf/d) and brings the total capacity of Lucid’s natural gas processing franchise in the northern Delaware Basin to 1.2 billion cubic feet per day.

White House Climate Czar and Big Oil Meet, Talk Cooperation

Representatives from the oil and gas industry and national climate adviser Gina McCarthy struck a cooperative tone following a meeting where the two sides discussed how companies can align with the Biden administration's ambitious climate goals.

Venezuela Gas Pipeline Tract Explosion Blamed on Attack

A tract of a gas pipeline in eastern Venezuela suffered an explosion on Saturday afternoon, according to a report from state oil company PDVSA seen by Reuters, an incident the country’s oil minister blamed on an attack.

Friedrich Vorwerk’s Energy Expertise Could Attract Investors

German energy infrastructure company Friedrich Vorwerk is guiding investors to expect its initial public offering (IPO) to price at 45-48 euros ($53.55-$57.12) per share, one of the bookrunners organizing the deal said on Monday.

U.S. Drillers Add Most Oil & Gas Rigs in a Week Since January

U.S. energy firms added the most oil and natural gas rigs in a week since January even as oil prices this week pulled back from a recent 28-month high.

NYC Natural Gas Ban Costs Potentially ‘Astronomical’

A New York City ban on natural gas connections in new buildings by 2030 and announced policies to ban natural gas and other fossil fuels in large buildings by 2040 could cost New York City households upwards of $25,000, a study shows.

Peru's Ultra-Conservative Candidate Could Kick Out Odebrecht

Peru's Rafael López Aliaga, an ultra-conservative member of Opus Dei, has a serious shot at becoming the Andean country's next president.

Ameren Modernizing Natural Gas Pipelines in Illinois

Crews will replace vintage steel transmission pipeline from the 1950s around Belleville with new, 16-inch steel pipeline.

Brazil Hopes to Attract Natural Gas Investors with New Law

Under the bill, companies interested in building gas pipelines will need a simple authorization rather than a more complex concession contract.

Perspective: U.S. Gas Stocks and Prices Normalize After Cold Snap

U.S. gas prices have fallen to levels that prevailed before severe winter weather hit Texas in mid-February, confirming the big freeze is not expected to create a lasting shortfall later in the year.

Analysis: Germany Bets U.S. Will Make the Best of 'Bad Deal' Nord Stream Gas Link

Germany is betting the U.S. administration will take a pragmatic approach to the Nord Stream 2 project to ship Russian gas to Europe and is pushing for the pipeline’s completion in defiance of U.S. opposition.

Thai Energy Firm PTTEP Expanding Midstream Investments

Thai oil and gas giant PTT Exploration and Production Pcl on Tuesday said it plans to expand midstream investments to have new businesses account for 20% of its profits by 2030, with a focus on gas-to-power.

Natural Gas Pipeline Projects Increase U.S. Transportation Capacity

From November 2020 through January 2021, approximately 4.4 billion cubic feet per day (Bcf/d) of new natural gas pipeline capacity entered service, EIA reported.

Perspective: China’s Gas Conundrum – Cleaner Air but Growing Security Risk

China has made significant progress building a gas distribution network to supply residents in major urban centers, helping provide cleaner and more convenient energy for heating and cooking while reducing air pollution.

Excelerate Energy, ExxonMobil, Albania Agree to LNG Terminal Study

Excelerate Energy, ExxonMobil LNG Market Development and the Republic of Albania (The Ministry of Infrastructure and Energy) signed a Memorandum of Understanding to conduct a feasibility study for the potential development of a liquefied natural gas (LNG) Project in the Port of Vlora in Southern Albania.

KKR Seeks $12 billion for Flagship Infrastructure Fund

Buyout firm KKR & Co Inc is seeking to raise $12 billion for its flagship global fund that will invest in infrastructure assets such as oil and gas pipelines and renewable energy projects.

Kinder Morgan Forms Energy Transition Ventures Group

Pipeline company Kinder Morgan said on Friday it had formed a new Energy Transition Ventures group to focus on low-carbon energy initiatives.

Brookfield Stays Committed to Hostile Inter Pipeline Takeover

Brookfield Infrastructure Partners said it is committed to its C$7.1 billion ($5.65 billion) hostile takeover offer for Inter Pipeline Ltd despite the pipeline company's board turning down the bid.

EnerMech Secures Five-Year Deal with Chevron Australia

Chevron Australia awarded global integrated solutions specialist EnerMech a five-year contract to provide a range of integrated services to its Western Australian oil and gas facilities.

Russia's Rosneft to Sell Southern Assets, Focus on Vostok Oil

Rosneft is selling its three southern oil assets and could complete deals for all three by the end of May as Russia's top oil company shifts focus to the giant northern Vostok Oil project.

Canada's Secure Energy to Buy Tervita as Oil Deals Speed Up

Canada's Secure Energy Services Inc said it would buy waste management services firm Tervita Corp in an all-stock deal valued at C$478 million ($379.5 million), the latest consolidation in the country's oil sector.

EIA Expects Crude to Average Near $50 Per Barrel Through 2022

The U.S. Energy Information Administration (EIA) expects global demand for petroleum liquids to be greater than global supply in 2021, especially during the first quarter, leading to inventory draws.

Subsea Pipeline Could Double Israeli Gas Exports to Egypt

A subsea pipeline that would connect Israel's Leviathan gas field to Egyptian liquefied natural gas (LNG) terminals could double Israel's gas export capacity to Egypt, the Israeli energy minister said.

Reusing Gas Infrastructure for Hydrogen Transportation

The EU’s “Hydrogen Strategy for a Climate-Neutral Europe” of July 2020 is only the latest in a series of programs designed to foster the use of hydrogen to decarbonize and integrate the energy system.

FERC Chairman Details Position on Natural Gas Pipelines

FERC Chairman Richard Glick does not want his intentions to review natural gas pipelines more thoroughly to be interpreted as him being opposed to gas pipelines altogether, he said.

Cash Infusion Provides Push for New Central European Gas Pipe

European Bank for Reconstruction and Development (EBRD) acquired a 25% stake from Transgaz, the parent company of Vestmoldtransgaz, for $24.2 million (€20 million).

Canada’s Inter Pipeline Urges Shareholders to Reject Brookfield's Hostile Bid

Inter Pipeline Ltd asked shareholders to reject Brookfield Infrastructure Partners' hostile bid, saying the offer "significantly undervalues" the Canadian oil and gas transportation company.

Black Bear Transmission Sells Alabama Gas Gathering Assets

The asset sale consists of more than 240 miles of natural gas pipelines, 26 active metered locations, and 1 active compressor station.

Germany’s Friedrich Vorwerk Plans to Expand in Hydrogen Market

German energy infrastructure firm Friedrich Vorwerk plans an initial public offering (IPO) on the Frankfurt stock exchange in the first quarter to accelerate growth in the hydrogen market, its biggest shareholder said.

Chevron to Buy Out Noble Midstream in All-Stock $1.32 Billion Deal

Chevron Corp will buy the shares of Noble Midstream Partners LP it does not already own in an all-stock deal that values the pipeline operator at $1.32 billion, a month after making a slightly smaller offer.